Singer Beyonce Knowles has settled a lawsuit with videogame company Gate Five. The $100 million lawsuit alleged that the singer backed out of a deal to create a dance video game called Starpower: Beyonce. Attorneys for Beyonce and Gate Five filed an agreement in the New York Court asking for a dismissal of all claims and counter-claims related to the case.
Gate Five lawyer Peter Gallagher told the New York Post that both sides have "settled amicably" and that he couldn't "discuss the terms of the settlement, but it was resolved.''
Beyonce backed out of the video game deal because she claimed that the developer had not secured the funding that they had promised. Gate Five claimed that Beyonce ditched the deal without notice and that her backing out cost them $7 million, forcing them to lay off 70 employees.
Terms of the settlement were not disclosed.